- McKesson (MCK) has launched a tender offer to buy the outstanding shares of German peer Celesio as the U.S. drugs distributor attempts to prevent hedge fund Elliott International from blocking the deal.
- McKesson has made its offer conditional on obtaining at least 75% of Celesio's shares, including those from two convertible bonds. When taking the debt into account, Elliot owns 21.05% of Celesius.
- McKesson has already agreed to buy 50.01% of Celesio from diversified holding company Franz Haniel & Cie. The total is worth $8.3B.
McKesson moves to seal Celesio deal
Dec 5 2013, 03:50 ET